Brazil’s crypto tax grab signals the end of an era
Brazil’s 17.5% crypto tax signals a global shift as governments eye digital assets for revenue, ending the era of tax-friendly crypto investing worldwide.
Opinion by: Robin Singh, CEO of Koinly
Crypto may be the first tax lever governments pull when scrambling for more revenue, if Brazil’s recent move is anything to go by.
In June, Brazil scrapped its tax exemption for minor crypto gains and introduced a flat 17.5% tax on all capital gains from digital assets, regardless of the amount. The decision was part of a broader effort by the Brazilian government to bolster revenue through increased taxation of financial markets.
